Traders don’t appear worried about the political upheaval in Washington. That may change in March and April. The stock market doesn’t seem to care about tariffs, inflation, or the turmoil gripping Washington. The calm may soon give way to a storm.
The S&P 500 hit a record on Wednesday, rising modestly after the Federal Reserve’s release of its meeting minutes didn’t change the narrative on rate cuts—still off the table for March and May, with June a tossup for a quarter-point cut, according to Fed Funds futures.
“The market is very choppy. It feels like we’re playing catch up every moment of every day. The news is coming out faster than anyone can reasonably react to the headlines,” said Clayton Allison, a portfolio manager with Prime Capital Financial, in an interview with Barron’s.
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